Apogee Beach

The Related Group of Florida recently launched preconstruction sales for Hollywood’s 22-story Apogee Beach Condo tower. Unlike preconstruction sales of condo’s during the 2004-2008 construction cycle, buyers at Apogee Beach in Hollywood will be required to give upfront 80% of the construction costs prior to the building opening which will limit the investors in the building. We expect most purchasers in the building to be end-users. The buyers will be required to give at contract 20%. 20% more down-payment at start of construction and estimated 40% at some point during the construction.

Apogee Beach will be located directly on the ocean in Hollywood Beach which is north of Sunny Isles Beach. It will have only 49 condo residences in a 22 storey building. Each unit will have a private elevator. We expect the building to be world class as it carries the name of Related’s other Apogee branded project which is located in South Beach